Finance Deputy Minister Miles Sampa
Finance Deputy Minister Miles Sampa

Finance Deputy Minister Miles Sampa says there is no cause for worry over the Kwacha’s recent ten per cent depreciation because the economic environment remains favorable.

And Mr Sampa has described the country’s first quarter economic growth pegged at six per cent as impressive.

He was speaking in an interview with ZNBC news in Lusaka on Sunday.

The Kwacha has reached its lowest ebb this year trading at 5400 Kwacha against the U.S dollar.

And Government has not banned the importation of various items meant for the production of chickens and other livestock.

Agriculture and Livestock Permanent Secretary David Shamulenge says the ban on importation is strictly on processed and unprocessed chickens.

Dr Shamulenge says the ban does not cover the importation of breeding stocks, veterinary equipment, materials, vaccines and drugs.

He has urged all stakeholders in the agriculture sector to always consult his ministry for guidance whenever they intend to export or import agricultural products.

Dr Shamulenge was speaking to ZNBC news in Lusaka on Sunday.

There has been misinterpretation and misinformation over the recent statement by Agriculture Minister Emmanuel Chenda on the ban on importation of chickens into the country.

ZNBC

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34 COMMENTS

  1. Miles, actions speak louder than words! 6 months into office and we haven’t yet heard a detailed policy roadmap from the president. Instead, we’ve been bombarded with conflicting & unpredictable statements and directives from ministers and their deputies; not to mention Wynter Kabimba (defacto min. without portfolio). I fail to understand how the kwacha will stabilize when you guys can’t even tell us the truth about Sata’s trip to India. If this circus continues, I actually forsee the kwacha depreciating further and not vice versa. Miles, as a former financial markets professional, you should know better. Politics aside, you guys are really messing up the mandate that so many Zambians gave you last Sep. That said, I wish King Cobby a speedy recovery.

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  2. ifintu fikabafye bwino, LESA ngapala. naifwe tukabafye bwino inshta yesu nyafika. Let PF work you suckers!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1

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  3. Which university did you go to Sampa. Are you blind to see that the economic environment has moved from STABLE to NEGATIVE

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    • you are really dull.. Stick to engineering if you are indeed and engineer.. That was simply Fitch’s opinion on our future economic environment given their view of the ZAMTEL issues on grounds of property rights. Nothing has changed, Copper, Cobalt, Manganese, Gold production is increasing due to expansion in these areas. Cement production expanding etc.. the economy thus grew / expanded by 6% over the QTR.. The so called rate is due to the local demand for dollar as every business is seeking to expand the operation and need to import equipment to take advantage of openign regional markets , DRC, Rwanda, Burundi, Malawi, Zimbabwe…

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  4. Please lets our votes work. we are fed up with the rhetoric from your govt which promised us many things which you have so failed to deliver in 90 days. April and onwards we expect more action since your budget states so..
    Chivundu

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  5. The economy needs to grow for at least 10 percent per year to have a meaningful impact on the 80 percent of the people who wallow in poverty in Zambia. Currently it seems only government officials and their relatives have more money in their pockets, courtesy of crazy people who put this government in power. The kwacha will continue sliding as the international community loses confidence in the Zambian economy and the politics that surrounds it. 

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  6. Miles Sampa, go and look at Fitch comments again. Your government’s actions and uncertainty in the past 90 days x2 have caused loss of confidence in the economy. Your government’s lies have not helped either. As if you guys have not told enough lies, now Lubinda adds salt to the injured economy by lying that MCS has gone on a ten day (impromptu) holiday to India. Since when did Zambians start going to India for holidays? In the midst of so many lies, which fool will believe your lies that the Kwacha will stabilise soon?

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  7. No.5 take it easy, dont insult Miles, he is a decent economist who knows what he talks about, well educated and more knowledgeable than your Under-5 who is just loud to make pipo think he is what he is not.

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    • @The Engineer (Australia) is right to question what the minister is talking about. The minister has not given any evidence to support his assertion that the economy is stable. The depreciation in the Kwacha is one indication of the economy being in trouble. If the minister can produce tangible evidence showing how stable the economy is nobody will question his econonmic education. As for you @faz problems, you are not interested in discussing issues apart from issuing insults. That is not the civilised way of debating issues.Just because one is a minister of government does not mean he knows everything. From the way Sampa talks I do not think he understands economics. It is easy to spout slogans about the economy but he would be on firm ground if he provided evidence to support his slogan

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  8. Ba @4 ANA how long has Africa been praying to for and yet we don’t an answer. In the mean time our European brothers keep getting blessed. Maybe it’s time we stopped waiting on God or any other man be it Europe, china, America, God etc to help us. The way I see it help is not comming only we can help ourselves. It’s about time Africans started to wake up we are the problem and the solution guys. Let’s first start with the basics build a stable diverse food base. Decent clean housing, hydro power stations and great rail n road network. Too expensive all you smart analyists will say. 

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  9. Miles (Kilometre) 

    A currency looses value based on two things

    1. Printing more money (which you clearly have not done)
    2. Less demand for the kwacha by people with foreign currency in this case the dollar.

    This means imports are becoming expensive and soon cost of production will increase and production will become expensive. The economy is becoming uncompetitive. In the near future marginal production in the economy will be shut down and more kapoya’s on the street with less money in their pockets.

    In a language you will understand it means

    tapali abalefya chi kwacha pantu tachikwete amaka yakushita ifuntu. 

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    • Your bemba is really baaaad. Anyway its worth showing how much you value the irresitible bemba language. Keep it up though.

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  10. Continued. I say it’s not too expensive agric! We have favorable land n rainfall we can get shared huge second hand tractors to till the land from oz instead of new prados for ministers. Housing! clay is abandant in zed don’t import roofing sheets thatch can be professional installed its better than iron. Build a clay water n sewerage pipe network. Electricity! Build our own generators my 5 year old son can build a motor sure we can produce localy our own hydro generaters. It’s only wire coils guys no rocket science. Roads! we can use pan bricks to make roads to remote areas. Labour! Will come from the unemployed of zed on the promise they get houses n food while working. If they can get a job then they have no choice but to wrk for gov

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  11. No 14

    Before you dream about all that you need a leader with brains….  show me any country in the world which has developed with a leader who has never finished primary school.

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    • One can only dream mate. I know we lack leadership in all areas in Africa. What we need more is principled leaders 

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    • 1 RE: the Zambian I think it was very polite of him to inuirqe after your wants, but that in no way indicates that he would be able to cater to them (that was simply your assumption, and life in Africa should have cured you of any such idea!). I bet you’re happy to have those Kwacha now much more value than a Zimbabwean dollar!2 Parents who do not offer choiceless choices are beyond my imagination.3 I presume your Zambian gas station attendant was male, so that answers your question. I suspect you are really looking for examples. How about this:Dad wants to watch the World Cup. Mom wants some family time. Dad offers to watch the World Cup with the family.

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  12. Look at what has become of South Africa with Jacob Zuma….  a laughing stalk.

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  13. Sry last stance I mean if people in zed can’t get a job then introduce a development law that says they should sign up for one of the projects or find a means of income. Laziness should be made semi illegal. A bit radical but if try any other way then we can just wait another 200 years till the world becomes one country for the whites or Asians to come n develop our land. Race should not be too much of an issue by then 

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  14. Please, please, please, sort out our Kwacha!!!! Why are you allowing the investors to take away all our dollars we are earning from our mines? How do you allow all the money to go out just like that? I still have hope in the PF govt despite the kwacha losing strength though it is worrying. Twapapata, tuposeniko amano. Life is becoming expensive to ordinary zambians now. I still dont understand why the inflation rate so very and the kwacha is almost becoming valueless. Ba govt twafwaniko twapapata. 90 days is gone and another 90 days is almost going as well. Let our votes work.

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  15. The depreciation of the currency is not always bad. If a country want to increase its exports it has to lower its currency, China is an example , it has always pegged its curreny lower to increase it is exports. The result is a no brainer.

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  16. So he did not say the interventions govt is making to make kwacha stabilise? But we are meant to beleive since children do not always have to know everything……..well that only happens in his PF wired mind.

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  17. Miles quit dreaming. The Kwacha will soon be the new Zim dollar. By the way, what happened to your hare-brained scheme you proposed when you were at Finance Bank that BOZ should be buying gold? Why don’t you try that now that you and your two uncles are running Finance and the whole of govt?

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  18. No 19

    Unfortunately your theory only works if a country is a major manufacturer of which Zambia is not. Its good you know something.
    For your information, Copper and agriculture are the major economic activities in Zambia. For both, except for labour all inputs are imported. So if the kwacha looses value, inputs become expensive. Soon kapoya’s will be on the streets

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  19. Kwacha will stabilise? You have to wonder whether this man talking about Malawian Kwacha, or what? , What is really disheartening and hurts is watching a supposedly enlightened person like Miles Sampa bury his head in sand like an Ostrich when the writing is clearly on the wall that Zambia is headed into abyss economically and politically.

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    • It’s very choice.But I still think that ceairtn activities might necessary trump a choiceless choice and bring it back into the realm of the a choice Game 1 of the World Series at the Temple in Arlington, might trump a night at the temple in Dallas. (Of course, that’s a fictional, hypothetical, event.)

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  20. Can someone please tell me the background of this man to talk about issues he does not seem to understand?What is his background?

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  21. @22 point taken, you are right about manufacturing but also understand that we can increase out put by taking advantage of fixed cost and other already incurred cost such as machinery in agric inputs or mining this can lead to an improved balance of payment. please aslo note that in global economy a country can also do well by increasing its exports in form of services eg tourism, banking, management etc.

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  22. Wow, it’s so exciting to read your blog! Thanks for snhairg. Just 4 days ago my husband and I changed course from adopting from Ethiopia to adopting from Zambia. We’re awaiting our I-171H right now I would love to hear more about your adoption experience in Zambia from identifying your children to finalizing the adoption and heading home! Please email me privately if you have a chance! Thanks!Jesi

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